The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates
a. True
b. False
Indicate whether the statement is true or false
True
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The decline in U.S. housing prices starting in 2007:
A. had essentially no impact on the rest of the U.S. economy. B. led to a sharp increase in consumer spending on other good and services. C. was followed by a large increase in employment. D. prompted many to sell their houses, causing house prices to fall further.
The supply of loanable funds is the relationship between loanable funds and ________ other things remaining the same
A) real GDP B) the price level C) the real interest rate D) the inflation rate
Use the above table. The data shows that the firm
A. is a monopsonist. B. is hiring in a perfectly competitive labor market. C. is selling its output in an imperfectly competitive market. D. is selling its output in a perfectly competitive market.
People will consistently sit through terrible movies at the theater instead of leaving early. This behavior makes no sense because it implies people are:
A. not thinking at the margin, which is rational. B. thinking at the margin, instead of focusing on sunk costs. C. ignoring sunk costs, which is irrational. D. focusing on sunk costs, instead of thinking at the margin.